USA: Hormel Foods announces record year

Hormel Foods Corporation (NYSE: HRL) yesterday announced a record-breaking financial performance with net earnings and dollar sales at all-time highs for the fiscal year ended October 28, 2000. The multinational marketer of consumer-branded meat and food products reported total fiscal 2000 earnings of $170,217,000, an increase of 4.1 percent, or $6,779,000, over reported earnings of $163,438,000 for fiscal 1999. Reported earnings per share were $1.20, an increase of $.09, or 8.1 percent, over last year's figure of $1.11.

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